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Will iWatch Really Change the Tide?

Stocks in this article: AAPLGOOGNKE

NEW YORK ( TheStreet) -- iWatch, iWatch, iWatch. That's all that seemed relevant in the conversations surrounding Apple (AAPL) until the recent iPhone refresh. Oh yeah, and hedge fund manager Carl Icahn's recent position.

But by all measures, the iWatch has garnered quite a bit of attention -- especially since it's never been confirmed by Apple. Maybe I'm the only one that has any sort of issue with it. It's not that I don't think the device could be successful, but I'm certainly leery of it.

Maybe it's because I don't think I'll wear an iWatch or a pair of Google (GOOG) Glasses, the latter of which admittedly could be big, especially if they look cool and fashionable. But perhaps the potential iWatch can do something that we're not yet aware of, although it doesn't seem likely.

And the way Samsung rushed into the space with subpar products, just seems amateurish. It makes me feel like this all just a fad. While Apple wasn't the first company to the smartphone, mp3 player or tablet market, it was the first company to get it right. Maybe it'll be same story this time around.

Let me be clear: I don't doubt Apple's ability to make incredible products. But I cease to be amazed by an iWatch idea thus far. It just doesn't seem like a game-changer to me. I guess, it doesn't need to be. As Apple has proved in the past, evolutionary products work, but it's the revolutionary ones that make the big bucks and allow for valuation and margin expansion.

I suppose every new product or idea has to start somewhere. Look at the Apple Newton, which ultimately led to the Palm Pilot and then to smartphones and tablets. First generation products generally suck, but in the future they could be great, as long as someone can make them incredible -- which has been Apple's task now for about a decade, although that idea is now being challenged.

We keep hearing, "Apple can't innovate anymore, but an iWatch would change that." But I have to ask, how? This product alone, regardless of how it looks, operates or sells, is the only thing that analysts, investors and the tech world need to see for Apple to 'prove' itself worthy of innovation?

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